https://www.taxtmi.com/caselaws?id=271107 The Tribunal ruled in favor of the assessee, allowing the appeal and overturning the CIT(A)'s decision. The Tribunal found that the repayment of the borrowed amount for charitable purposes aligned with the trust's objectives, qualifying as an application of income under section 11 of the Income Tax Act. The Tribunal also held that the CIT(A) lacked jurisdiction to issue directions for a different assessment year not under appeal, further strengthening the assessee's position. en-us Thu, 05 Nov 2015 00:00:00 +0530 Wed, 27 Jan 2016 06:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271107 The Tribunal ruled in favor of the assessee, allowing the appeal and overturning the CIT(A)'s decision. The Tribunal found that the repayment of the borrowed amount for charitable purposes aligned with the trust's objectives, qualifying as an application of income under section 11 of the Income Tax Act. The Tribunal also held that the CIT(A) lacked jurisdiction to issue directions for a different assessment year not under appeal, further strengthening the assessee's position. Case-Laws Income Tax Thu, 05 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271107